12:12 PM EDT, 08/04/2026 (MT Newswires) -- European stock markets closed higher Tuesday as investors assess mostly solid earnings and look for signs of progress in talks to reopen the Strait of Hormuz.

The Stoxx Europe 600 rose 0.7%, Germany's DAX 40 advanced 0.8%, the FTSE 100 gained 0.2%, and France's CAC 40 and the Swiss Market Index each gained 0.6%.

The US and Iran may reach a deal Tuesday or Wednesday to reopen the Strait of Hormuz for commercial ships, Treasury Secretary Scott Bessent said in an interview with CNBC.

In corporate news, Rio Tinto is unlikely to revisit merger talks with Glencore soon with the six-month standstill on negotiations set to expire Tuesday, Reuters reported.

Shares of Rio Tinto rose 3.4% in London, and Glencore gained 2.5%.

BP reported Q2 underlying replacement-cost profit of $2.22 per diluted American depositary share, up from $0.90 a year earlier. Sales and other operating revenue rose to $69.11 billion from $46.63 billion. Analysts polled by FactSet expected $58.93 billion.

Shares of the British oil and gas major dropped 5% in London.

Sanofi said the European Commission approved an expanded indication for MenQuadfi to include infants from six weeks of age for the prevention of invasive meningococcal disease caused by Neisseria meningitidis serogroups A, C, W and Y.

Shares of the French pharmaceutical company declined 0.5% in Paris.

BioNTech reported a Q2 adjusted loss of 2.22 euros ($2.56) per diluted share, widening from the loss of 1.45 euros a year earlier. Two analysts expected an adjusted loss of 1.99 euros. Revenue fell to 105.6 million euros from 260.8 million euros. Analysts expected 157.8 million euros.

Shares of the German biotech firm fell 2.2% in Frankfurt.